Why Europe Is Embracing the New American Growth Model.

The article discusses how Europe is considering adopting elements of the American growth model to address its economic stagnation and competition from China. The report by Mario Draghi, former European Central Bank president, emphasizes the importance of the technology sector and the need for Europe to move away from old industries. The article highlights the lack of large European companies compared to the US and suggests that Europe should focus on targeted subsidies and industrial strategies to promote productivity growth. It also mentions the challenges of moving into more complex sectors and the history of nations that have attempted to catch up economically. [Extracted from the article]